Several months ago, the government of Australia proposed to tax bank deposits up to $250,000 at a rate of 0.05% (5 basis points).
Their idea was for the money to be invested in a rainy day Financial Stabilization Fund to insure against in the unlikely event of a banking crisis… or all-out collapse.
And as of this morning, it looks like the levy might just pass and become law in Australia. All parties support the idea. Which means that Australia might just have a tax on bank deposits starting January 1, 2016.
To be clear, the proposal seems to plan on taxing the banks based on the amount of deposits they’re holding—but it’s pretty obvious this will be passed on to consumers in the form of lower interest rates.
Up until now, the world’s descent into the NIRPy twilight of fiat currency was a function of failing monetary policy around the globe as central bank after desperate central bank implemented negative and even more negative (in the case of Denmark some four times rapid succession) rates, hoping to make saving so prohibitive consumers would have no choice but to spend the fruits of their labor, or better yet, take out massive loans which they would never be able to repay. However, nobody said it was only central banks who could be the executioners of the world’s saver class: governments are perfectly capable too. Such as Australia’s.
It appears the sea of de-dollarization has reached the shores of Europe. With Australia and UK having already moved in the direction of joining the China-led AIIB, The FT reports that France, Germany, and Italy have now all agreed to join the development bank as ‘pivot to Asia’ appears to be Plan B for Europe. As Greg Sheridan previously noted, “the saga of the China Bank is almost a textbook case of the failure of Obama’s foreign policy,” but as The FT concludes, the European decisions represent a significant setback for the Obama administration, which has argued that western countries could have more influence over the workings of the new bank if they stayed together on the outside. As Forbes notes, this leaves Obama with 3 uncomfortable options…
As The FT reports,
France, Germany and Italy have all agreed to follow Britain’s lead and join a China-led international development bank, according to European officials, delivering a blow to US efforts to keep leading western countries out of the new institution.Continue reading »
Having attacked its “closest ally” UK for “constant accomodation” with China, we suspect President Obama will be greatly displeased at yet another close-ally’s decision to partner up with the Chinese-led Asian Infrastructure Investment Bank (AIIB). As The Australian reports, “make no mistake,” the decision by Australia’s Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend,“represents a colossal defeat for the Obama administration’s incompetent, distracted, ham-fisted diplomacy in Asia.”
The decision by the Abbott government to sign on for negotiations to join China’s regional bank, foreshadowed by Tony Abbott at the weekend, represents another defeat for Barack Obama’s diplomacy in Asia.Continue reading »
Fluoride makes people docile, infertile and gives them cancer. It also leads to the calcification of the entire body, incl. the pineal gland (which means the end to longevity and to one’s spiritual life) .
With about 70% of the public drinking water being fluoridated in the U.S. it is safe to say that TPTB turned the U.S. into one big concentration camp. This is genocide!
I’ve extensively covered the damage that is caused by vaccines. Here is an example:
Perhaps the only country in the world more committed than the U.S. and England to poisoning its own citizens with deadly chemicals in the name of “public health” is Australia, where bitter establishment fogies are angrily resisting all forms of free speech that question or object to the longstanding status quo.
Fluoride truth-teller Professor Paul Connett, who recently held a forum on water fluoridation in Australia, was reportedly snubbed by every single government official he invited to the event to present their opinion on the controversial practice, which by definition amounts to nothing less than forced mass medication with a dangerous pharmaceutical drug. Continue reading »
Dalian Iron Ore prices have been cut in half in the last year (which must mean over-supply and not under-demand, right?). Amid China’s growth target cut, Iron Ore prices there have crashed to below $60 – a record low – and that is having dramatic impacts across many regions. As we recently noted, Aussie gold miners are producing desperately to generate cashflow, but despite the booming housing market in some areas, as Reuters reports,the drop in iron ore and coal prices (the nation’s 2 biggest exports) have led former boom towns to bust as “reality comes into the marketplace.”
As bad as it’s ever been… one-third of 2011 peak credit-enthused levels…
Australia’s vaccine zealots are the most rabid extremist wing of the vaccine medical mafia, and they’ve engaged in tactics like issuing death threats to vaccine educators to try to silence them. Now, they’re trying to get the Australian government to ban the travel visa of Dr. Sherri Tenpenny, a pro-informed-consent educator who has conducted more research into vaccine adverse effects and safety risks than almost anyone else speaking out today.
Here’s the shocking interview about the Australian travel blockade of Dr. Sherri Tenpenny, broadcast on the Next News Network with Gary Franchi:
Australia’s vaccine mafia, it turns out, is absolutely terrified that citizens of Australia might learn the truth about vaccine exemptions, toxic vaccine ingredients (like mercury) and the growing global epidemic of vaccine-damaged children. Continue reading »
“Worse than one of Jewish Hollywood’s B movies,” I muttered to myself as the events in Sydney unfolded earlier this week, “all that’s missing is a damn Jewish or ‘Israeli’ hero and/or victim story eclipsing the horror of every Gentile in the crowd and we’d be set!” I animatedly but nevertheless quite seriously concluded as I turned off my computer for a moment to take a break from the horrifically monotonous hasbara. Little did I know that my miniature, infuriated cathartic rant would actually turn out to be rather prognosticative.
Whenever constructed and media-fueled events such as what took place in the state capital of New South Wales on December 15th occur, the first question that needs to be asked obligatorily is “who benefits?” In this instance, as the case was with the murderous attacks on September 11th, 2001 (1),July 7th 2005 (2), and November 26th, 2008 (3), to name just a notable few, the prime beneficiary is the felonious, sanguinary, usurping Zionist entity occupying Palestine and its perfidiously anti-Islamic “Global War On Terror (GWOT)”. And while detailed information continues to trickle in regarding what took place on that fateful day, the proofs already available are more than sufficient enough to not only put a dent in the official story of the Zionist mainstream press, but beat the living daylights out of it and expose it as the handiwork of Zionism’s dirty hands. Continue reading »
The Sydney hostage standoff at the Lindt chocolate store on Martin Place continues well into its 13th hour, where the latest news is that five people have escaped with others still held inside as neighboring blocks remain locked down, authorities said ABC reports. The first three people who fled sprinted out of the Lindt Chocolat Cafe about six hours into the standoff, while two women wearing aprons frantically ran from a side exit and into the arms of heavily-armed SWAT team police officers waiting outside. At the same time, media personalities said they received calls from hostages during the standoff. It remains unclear exactly how many people remain inside the cafe.
A video showing three Sydney police officers brutally beating a young woman has gone viral, with over 750,000 views on Facebook. During the clip, the victim is repeatedly hit with a police baton and appears to be kicked in the head by a male officer.
Police brutality has been hitting the headlines in the US, but now it seems the unfortunate trend has made its way to Australia. The woman in question, Claire Helen, who works as a model and actress and was on the receiving end of recurring blows from a police officer, said: “It was the most frightening and humiliating experience of my life.”
In a historic move showing just how profound the collapse in global commodity demand and trade is, earlier today the Sydney Morning Herald reported that Australia’s biggest coal exporter Glencore, which last year concluded its merger with miner Xstrata creating the world’s fourth largest mining company and world’s biggest commodity trader, will suspend its Australian coal business for three weeks “in a move never before seen in the Australian market, to avoid pumping tonnes into a heavily oversupplied market at depressed prices.” Putting this shocking move in context, it is something that was avoided even during the depths of the global depression in the aftermath of Lehman’s collapse, and takes place at a time when the punditry will have you believe that the US will decouple from the rest of the world and grow at 3% in the current quarter and in 2015.
A Russian diplomat in Australia called the remark of Australian PM Tony Abbott about his intention to “shirtfront” Vladimir Putin “immature.” He reminded the Aussie politician that he might be “very fit” but Putin is “a professional judo wrestler.”
Abbot’s scandalous remark came on Monday after he told journalists that he is going to “shirtfront” the Russian president on the sidelines of G20 summit over the tragedy of the Malaysian airliner crash in the Donetsk Region of Ukraine in July.
“I am going to shirtfront Mr Putin – you bet I am – I am going to be saying to Mr Putin Australians were murdered, they were murdered by Russian backed rebels,” Abbott said. Continue reading »
Despite the still confident exclamations from officials that the Ebola pandemic is ‘contained’, more and more nations are admitting to Ebola-symptomatic cases or bringing infected patients back from Africa for treatment. Australia has its first potential case of the deadly disease, as Bloomberg reports a nurse who returned from volunteering in Africa has developed Ebola-like symptoms. Despite claims that Nigeria’s outbreak is over, a Turkish worker there has been hospitalized in Istanbul after signs of high fever and diarrhea. Health officials from Germany confirm a 3rd Ebola patient has arrived in the country – having contracted the disease in Liberia. And finally, just as in the sad case of Thomas Duncan in Dallas, The Guardian reports the infected Spanish nurse went untreated and unquarantined for a week despite reporting symptoms at least three times to hospital officials. It seems the world is ill-prepared for this…
Bloomberg reports, a nurse who treated Ebola patients with the Red Cross in Sierra Leone was hospitalized in Australia after developing a low-grade fever, health officials said. She is being tested for the deadly virus.
SOUTH Australia needs a blanket ban on gun ownership in metropolitan areas to save lives and improve public safety, a respected senior SA judge has declared.
In a move that will ignite debate on gun laws, Supreme Court Justice Michael David said the issue of “gun availability’’ had been a recurring theme in a significant number of cases he had presided over during his 18 years on the District and Supreme Court benches. Continue reading »
Understanding how the power structure thinks, and how it intentionally manipulates the emotions of the masses, is key to overcoming and rolling back totalitarian ambitions. I have spent the last few posts talking about how instilling fear throughout the general populace is one of their primary tactics. Indeed, to borrow a term from Glenn Greenwald, “fear-manufacturing” has been in overdrive across the Five Eyes nations over the past several weeks. In the UK, we saw it used to convince elderly Scots to overwhelming vote against independence, thus swaying the result decisively to the NO side. In the USA, we have seen it used to drum up support for another pointless war in the Middle East, which will benefit nobody except for the military/intelligence-industrial complex. Continue reading »